Private investment company buys Virginia Business magazine

Virginia Business Magazine, published by Media General, Inc., has been sold to Virginia Business Publications LLC, a Virginia-based investment company that will include Bernard A. Niemeier, the magazine’s president and publisher. The sale was effective today. No terms were released.

Virginia Business, a statewide business news monthly that covers major industries and business trends, has published for nearly 24 years. “We are delighted to be able to acquire a strong, long-standing, statewide brand that is the best in its category. The reputation of Virginia Business is excellent, and the quality of the executive audience it reaches is unsurpassed in the marketplace. The award-winning magazine has an excellent staff, and we expect to retain all full-time employees,” said Niemeier on behalf of the new ownership group.